Last week I began updating a series from 2015 on the price of advertising on WOWO Radio and in Fort Wayne, Indiana overall.
$110 per minute is the new standard for a 1 minute recorded commercial on WOWO radio during primetime. Primetime is 6am to 6pm, weekdays.
Primetime is when WOWO radio’s audience is the largest. Compared to radio stations with a smaller audience, WOWO’s prices are appropriate. But hang on a second and I’ll tell you how WOWO sets our prices.
It’s not really about the size of the audience. The price of advertising on WOWO is based on the common law of supply and demand.
Each week, we update the WOWO rate card which list prices for the next 13 weeks.
Between 6am and 6pm each weekday, there are slots for 97 one minute radio commercials. Looking ahead over the next 4 weeks, there are only 4 slots open per day. That’s 93 of the 97 slots for a 60 second radio commercial are already sold. WOWO is 96% sold of one minute commercials in primetime for the next 4 weeks.
The demand is at an all time high.
What causes the demand?
The results that our current advertisers are getting. The radio advertising campaigns we air on WOWO radio are paying off for our advertising partners. It’s that simple.
As the demand stays high, the supply is low and the price stays high, just like any other business.
Because my rate card goes 13 weeks, I see that in about 10 weeks we are only about 75% sold out. But as each week goes by, we continue to fill those empty slots. We will be looking at being 95% sold out all summer long.
The price of an individual commercial is not really the best way of evaluating an advertising campaign, but it is an important factor that I have to take into consideration when creating your advertising campaign.
Questions? Contact me. And more coming on Wednesday.